Mobile Wallets 101

Your smart phone already works as a media player, newspaper, GPS, watch, camera and social network hub. Now it can serve as your wallet too. While mobile payments are making their way, the technology is also raising questions about security and privacy. No matter, how convenient it is, mobile wallet acceptance rates are relatively low because users are wary of security and privacy issues related to new technology usage. Continue reading

To PIN or Not to PIN, that remains the Question!

Counterfeit card fraud has always been a serious concern. Recently, some U.S. retailers have been striving to use personal identification numbers, or PINs, with new credit cards embedded with computer chips in a bid. However, the banking industry has been resisting their cause, as they believe that there is no need to spend in PIN technology anymore. Such efforts would result in increased confusion as happened in debit cards. Continue reading